SV AGRI TRADE LLP,MUMBAI vs. DY CIT-CENTRAL CIRCLE 1(1), MUMBAI

ITA 2959/MUM/2022Status: DisposedITAT Mumbai27 July 2023AY 2016-201723 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the impounded Excel file was from Glencore Agriculture India Private Limited, and evidence supported the appellant's claim that 'Agritrade' referred to AISPL. The Revenue failed to discharge its onus to link the transactions to the appellant.

What were the facts?

During a survey, an Excel file related to Toor Dal transactions was impounded. The Assessing Officer made additions based on this file, linking 'Agritrade' to the appellant. The appellant provided evidence suggesting the file pertained to another entity, AISPL.

What were the issues?

Whether the impounded Excel file and related additions were correctly attributed to the appellant, and if the Revenue discharged its burden of proof.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 142(2A),Section 133A,Section 133(6),Section 40(b),Section 234B,Section 234C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, G BENCH, MUMBAI

Per Rahul Chaudhary, Judicial Member:

By way of the present appeal the Appellant has challenged the order, 1. dated 22/09/2022, passed by the Ld. Commissioner of Income Tax (Appeals)-47, Mumbai [hereinafter referred to as ‘the CIT(A)’] for the Assessment Year 2016-17, whereby the Ld. CIT(A) had partly allowed the appeal of the Appellant against the Assessment Order, dated 26/03/2019, passed under Section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’).

The Appellant has raised following grounds of appeal: 2. “1. That, on the facts and in the circumstances of the case and

The order continues below.

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